The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.055% high yield, a price of 99.995722.
The coupon equivalent was 0.056%. The bid-to-cover ratio was 4.08.
Tenders at the high rate were allotted 73.70%. The median rate was 0.050%. The low rate was 0.030%.
The bills have an issue date of August 15 and are due September 12.
Tenders totaled $183,594,737,200 and the Treasury accepted $45,001,187,200, including $264,325,000 non-competitive.
The Fed banks bought nothing for their own account in exchange for maturing securities.